- Short liquidations outpaced long liquidations for the first time in weeks on Wednesday
- ADA whale wallets just hit an all-time high of 26.2 billion tokens held
- USDCX minted $5.4M on Cardano in 48 hours, pushing total reserves past $35M
Cardano trades at $0.1558 on July 2, up 1.30% and hitting its highest price in a week, as the Parabolic SAR flips below price for the first time since June’s collapse began.
Is ADA’s Parabolic SAR Finally Flipping Bullish?
The daily chart shows the Parabolic SAR at $0.1385, now sitting below spot price for the first time in weeks, a technical signal that momentum may be shifting after a sustained downtrend. Every major EMA still sits overhead: the 20-day at $0.1586, the 50-day at $0.1858, the 100-day at $0.2204 and the 200-day at $0.2941, stacking bearishly but showing the 20-day as the immediate target if today’s bounce holds.
Price is working through a horizontal support zone between $0.14 and $0.15 that held through multiple tests in June, and the SAR flip is the first confirmation buyers are making headway. A rejection at $0.1586 would likely mean another leg lower, as it did in previous bounce attempts.
What Are The Key Support And Resistance Levels For ADA Today?
- Support at $0.1524 and the $0.14 floor
- Resistance at $0.1586 on the 20-day EMA, then $0.1858 on the 50-day
Are ADA Shorts Finally Losing The Upper Hand?
Derivatives volume rose 8.08% to $544.55M while open interest climbed 1.62% to $374.88M, both ticking higher together, pointing to fresh positioning rather than exits. The more telling signal is in liquidations. Over 24 hours, shorts lost $857.14K against just $158.49K for longs, a reversal of the pattern that has dominated ADA’s derivatives for weeks where longs were consistently getting wiped out.
That short-side pain extended across timeframes. Over the past 12 hours, shorts lost $153.94K against $85.81K for longs, and over the past hour shorts gave up $207.17K against $110.31K for longs. Sellers are losing leverage positions at every timeframe, a sign that selling momentum is fading rather than building.
Why Are ADA Whale Wallets At A Record High?
On-chain data shows ADA held by whale wallets has climbed to 26.2 billion tokens, an all-time high, while the number of whale wallets has actually slightly declined. Fewer wallets holding more ADA signals consolidation among conviction holders rather than broad distribution. Exchange supply of ADA hit a new all-time low on Tuesday, meaning the combination of whales accumulating and coins leaving exchanges is tightening available sell-side supply.
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Separately, $5.4 million in USDCX stablecoin was minted on Cardano in the past 48 hours, pushing total USDCX reserves on the network past $35 million. DeFi liquidity on Cardano is growing even as price has been under pressure, a setup bulls have been pointing to as a precursor to a narrative shift.
ADA Price Prediction: Upside and Downside Targets
- Upside case: The SAR flip holds, ADA clears the 20-day EMA at $0.1586, and price targets $0.1858 as short covering accelerates.
- Downside case: The 20-day EMA rejects price as it has before, ADA slips back below $0.1524, and the support zone near $0.14 faces another test.
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